Dennis Van Roekel, president of the teachers union that styles itself the National Education Association, told the network: "I brought the message that, number one, it's important that we let the Bush tax cuts disappear for the wealthiest 2%. As we're looking for a $1.2 trillion solution, $829 billion takes us a long way there."
Do you see the problem here? The annual budget deficit has been running at around $1.2 trillion. (The Hill reports the deficit for October alone was $120 billion.) Raising taxes on "the wealthiest 2%," it is estimated, would increase government revenues $829 billion over a DECADE. When Van Roekel says the tax hike "takes us a long way there," he's off by an order of magnitude.
The president's answer is still more massive, job-killing tax increases:
(Excerpt) Read more at online.wsj.com ...
